Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP) Sees Large Volume Increase – Should You Buy?

Invesco Dorsey Wright Momentum ETF (NASDAQ:PDP) saw unusually-strong trading volume on Wednesday . Approximately 31,773 shares changed hands during mid-day trading, an increase of 57% from the previous session’s volume of 20,188 shares.The stock last traded at $98.98 and had previously closed at $97.83.

Invesco Dorsey Wright Momentum ETF Price Performance

The stock has a 50 day simple moving average of $109.81 and a two-hundred day simple moving average of $108.08. The company has a market cap of $1.23 billion, a PE ratio of 27.62 and a beta of 1.02.

Invesco Dorsey Wright Momentum ETF Dividend Announcement

The company also recently disclosed a dividend, which was paid on Friday, December 27th. Shareholders of record on Monday, December 23rd were paid a $0.1344 dividend. The ex-dividend date was Monday, December 23rd.

Institutional Investors Weigh In On Invesco Dorsey Wright Momentum ETF

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Keener Financial Planning LLC purchased a new stake in shares of Invesco Dorsey Wright Momentum ETF during the fourth quarter worth approximately $27,000. Russell Investments Group Ltd. acquired a new stake in Invesco Dorsey Wright Momentum ETF in the fourth quarter valued at $32,000. GeoWealth Management LLC acquired a new stake in Invesco Dorsey Wright Momentum ETF in the fourth quarter valued at $41,000. Harbour Investments Inc. grew its holdings in Invesco Dorsey Wright Momentum ETF by 206.2% in the fourth quarter. Harbour Investments Inc. now owns 594 shares of the company’s stock valued at $64,000 after purchasing an additional 400 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Invesco Dorsey Wright Momentum ETF in the third quarter valued at $83,000.

Invesco Dorsey Wright Momentum ETF Company Profile

PowerShares DWA Technical Leaders Portfolio (the Fund) is based on the Dorsey Wright Technical Leaders Index (the Index). The Fund seeks investment results that generally correspond to the price and yield of the Index. The Fund will normally invest at least 90% of its total assets in securities that consists of the Index and American Depositary Receipts (ADRs) based on the securities in the Index.